PR Newswire | September 28, 2023
Expert.ai unveiled today its "Enterprise Language Model for Insurance" – ELMI, a cutting-edge innovation in domain trained language models, set to help insurers reach their process automation and digital transformation goals with the highest accuracy. By simplifying and powering the interaction with language data within the expert.ai Platform for Insurance, Insurers can access solutions that scale and take advantage of deep insurance domain expertise combined with the best and most cost-effective attributes of Large Language Models (LLMs) to automate core processes.
Through the expert.ai Platform for Insurance, ELMI supports key capabilities, including:
Generative Summarization: generate accurate summaries, condensing vast amounts of claim or policy information into concise insights, saving time and accelerating straight through processing or human review activities.
Zero Shot Extraction: extract crucial insurance data from structured/unstructured, handwritten/typed, good quality/bad quality sources with accuracy and automatically normalize output formats and add medical annotations such as ICD 9/10 medical codes.
Generative Q&A: answer questions quickly so underwriters and claims handlers can extract meaningful insights from proprietary case files by asking questions using natural language queries.
Walt Mayo, expert.ai CEO, said: "Delivering on our commitment to innovation and higher level of efficiencies in the insurance sector, ELMI sets a new standard for AI-driven language solutions. As part of the expert.ai Platform for Insurance, ELMI equips insurers with the generative AI tools they need to automate the complex landscape of language-driven processes, while also offering substantial cost savings."
Unlike general knowledge large language models, ELMI is:
Trained for Insurance: Eliminating the cost and complexity of training language models, ELMI is engineered with a deep understanding of the insurance domain, providing insurers with generative AI capability ready to tackle underwriting and claims processing challenges.
Built for the real-world: ELMI is integrated into expert.ai end-to-end insurance solutions to meet the practical challenges of AI at scale across insurance workflows from underwriting to claims. Expert.ai purpose-built approach addresses critical shortcomings of general-purpose language models and brings the power of generative AI to improve accuracy and reduce costs.
Cost Optimized: When compared to hosted token-based models, ELMI offers a more cost-effective solution, reducing expenses related to usage, hosting, running, and maintenance, while still delivering superior performance and accuracy.
Secure and Compliant: ELMI is designed to ensure compliance with the most stringent governance standards and does not share sensitive insurance data.
Cloud-agnostic: Offering the flexibility to deploy on any cloud infrastructure or on-premises, ELMI deployments easily meet insurer's varying requirements.
For inquiries, demonstrations, or more information about ELMI, please request a demo.
Expert.ai is the leading enterprise AI company solving complex language challenges. Our solutions deliver key information for publishers, streamline operations for insurers, drive revelations for pharmaceutical giants, and enhance customer interactions within financial services – all while automating traditional labor-intensive methods. By combining deep domain expertise with the finest attributes of Large Language Models, Machine Learning, and Symbolic AI, we are at the leading edge of linguistic advancements in hybrid AI. With a global presence in Europe and North America, we proudly serve clients that include AXA XL, Zurich Insurance Group, Generali, Sanofi, EBSCO, The Associated Press, Bloomberg INDG, and Dow Jones. For more information, visit https://www.expert.ai/
GlobeNewswire | September 26, 2023
Applied Systems® today announced that Fisher Brown Bottrell Insurance, Inc. has selected Applied Pay to make their business units more efficient across all workflows and simplify the payment process for their customers. The agency is taking advantage of Applied Pay’s integration with Applied Epic to automate payment collection, processing, and reconciliation, while providing an effortless, modern checkout experience that internet-savvy clients have come to expect.
“We’ve used other payment solutions in the past but didn’t get the buy-in we expected because the process was too cumbersome for our customers,” said Tiffany Johnston, Senior Vice President, Technology Operations Manager, Fisher Brown Bottrell Insurance, Inc. “We’ve been long-time customers of Applied, so migrating to Applied Pay was the obvious choice. Not only do we get that ease of client payment through a link, but our accounting staff can streamline their back-end processes, a benefit that really made Applied Pay stand out.”
Applied Pay is a cloud-based electronic payments hub that enables agents and brokers to provide their clients with a secure, online way to pay new and recurring premiums. Directly integrated into Applied Epic®, Applied CSR24® and EZLynx Client Center, Applied Pay provides intuitive, branded checkout pages where policyholders can pay premiums via credit card or ACH. It automatically handles payment authorization and tokenizes sensitive information to increase security and ensure compliance. The solution also reconciles receivables at the account level, reducing manual workflows and improving the accuracy and timeliness needed to reconcile payments.
“In today’s e-commerce climate, consumers can make a purchase with just the click of a button, and paying for an insurance premium shouldn’t be any different,” said Chase Petrey, president of Applied Pay, Applied Systems. “It’s always a win-win when one solution can simplify processes for both customers and staff at once, something Applied Pay will allow Fisher Brown Bottrell Insurance, Inc. to do by offering their customers an intuitive payment hub that models the modern online shopping cart experience while providing a speedy and secure reconciliation process for their accounting staff.”
About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.
PR Newswire | October 12, 2023
INSURICA, one of the largest privately held independent insurance agencies in the nation, has selected Ascend, the leading financial operations automation platform, to advance their commitment to innovation, elevate the client experience, and drive increased efficiency across their operations.
As the industry's sole provider of financial operations automation software, Ascend will streamline INSURICA's billing, carrier payables, and financing workflows. By integrating Ascend's transformative technology, INSURICA aims to enhance their customer-centric approach while empowering their teams to dedicate more time to building valuable client relationships.
We are constantly re-evaluating the way we do business, striving to deliver exceptional customer service and optimize our operations, said Kylie Hubbard, Director of Innovation at INSURICA. Ascend is a groundbreaking solution that has truly revolutionized our post-placement lifecycle for policies. With seamless software and automation, we have significantly improved customer service and streamlined our processes.
Ascend's solution automates all accounts receivable (AR) and accounts payable (AP) tasks in the agency bill workflow. From invoicing to premium financing to carrier payables, Ascend simplifies the complex tasks associated with premium and commission management. This unified workflow provides real-time transparency and accelerates the speed at which INSURICA can bind and manage policies, all while prioritizing a superior customer payment experience.
We founded Ascend with the goal of partnering with leaders in the insurance distribution channel to optimize operational efficiencies and elevate the client experience through automation, emphasized Andrew Wynn, Co-CEO of Ascend. INSURICA's commitment to innovation aligns perfectly with our mission, and we are honored to collaborate with them in pushing the insurance industry forward.
Ascend is the industry-leading provider of financial operations automation software, dedicated to modernizing the insurance industry's financial infrastructure. Ascend is the only solution designed to enhance agency management systems by streamlining the insurance life cycle for agency bill processes. By eliminating manual back office accounting tasks, improving cash collection cycles, and providing a best-in-class customer experience, Ascend significantly increases the productivity, efficiency, and profitability of agencies and brokerages. To learn more about how Ascend can transform your business, please visit www.useascend.com.
Placing over $1 billion in annual premiums for our clients, INSURICA is among the 40 largest insurance brokers in the United States and is currently the 24th largest privately held independent agency in the country.
INSURICA employs more than 600 colleagues in 33 offices located throughout Oklahoma, Texas, Arkansas, Kansas, Colorado, Arizona, California, Mississippi, Alabama, and Florida. We are constantly looking to expand our network with partners who bring additional value and expertise to the enterprise and our clients. Our focus on finding quality and experienced partners, coupled with the resources of Assurex Global positions INSURICA as one of the preeminent insurance brokerages in the country and further emphasizes our customer pledge that we "Specialize in You."